A person familiar with the negations says the Detroit Tigers and Justin Verlander have agreed to an $80 million, five-year contract.
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The person spoke on the condition of anonymity Wednesday night because the deal had not been announced.
Verlander won a career-high 19 games with a career-best 3.45 ERA last season. He is 65-43 with a 3.92 ERA in four full seasons with the Tigers.
The sides agreed to avoid arbitration. When figures were exchanged last month, Verlander asked for $9.5 million for next season and the team offered $6.9 million.
Verlander ended up securing a more lucrative contract than Felix Hernandez. The Seattle Mariners gave Hernandez a $78 million, five-year deal.
Oddsmakers from online sports book Sports Interaction have made the Tigers 28/1 long shots to win the 2010 World Series.
Posted: 2/4/10 10:45AM ET